29/11/2021

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Former Delphi Technologies CEO Richard Dauch to take the helm at Workhorse EV company

2 min read

Longtime car offer government Richard Dauch will be the subsequent CEO of electrical vehicle corporation Workhorse Team.

Dauch, who begins in his new job Monday, replaces Duane Hughes, who was in the purpose 2 one/2 years, in accordance to a news launch.

Dauch formerly served as CEO of Delphi Technologies PLC, a suburban Detroit powertrain corporation that was spun off from Delphi Automotive PLC along with Aptiv PLC in 2017. He guided Delphi Technologies via an acquisition by BorgWarner Inc. that closed in October. Adhering to the $three.2 billion offer, Dauch served as an adviser at BorgWarner for 50 {ed0b873b90f1b87a4f3b347f1646a477c6eee9bccb9dcbe5ac9cb67a3d16495a} a calendar year.

He steps into the top purpose at Loveland, Ohio-primarily based Workhorse soon right after the corporation submitted a authorized challenge against the United States Postal Support for its multibillion-dollar offer with Oshkosh Defense to manufacture EVs for the federal agency’s fleet. Workhorse, which can make all-electrical delivery vans, had been aiming to land business from the USPS.

Dauch invested thirteen years in different senior roles at Detroit-primarily based American Axle & Manufacturing Inc., started by his late father Dick Dauch. From there, he served as president and CEO at Acument Global Technologies for 2 one/2 years before serving the exact same purpose for Accuride Corp.

“He is a sturdy government with more than twenty five years of market knowledge, which includes twelve years serving in CEO roles with private and publicly traded businesses,” Ray Chess, Non-government Chairman of Workhorse’s board of administrators, said in the launch. “Rick’s confirmed team management abilities, market abilities, customer concentrate and productive operational keep track of record make him ideally suited to guide Workhorse into its subsequent section of operational ramp-up and expansion through this dynamic market change to electrical very last mile delivery services.”

Workhorse put its very first electrical van on the highway in the commencing of the calendar year with plans to manufacture 2,000 by the conclude of 2021. Nevertheless, it dialed that back again to just one,000 vans, with a backlog of about eight,000, in accordance to the corporation. Its shares plummeted by practically 50 {ed0b873b90f1b87a4f3b347f1646a477c6eee9bccb9dcbe5ac9cb67a3d16495a} in February right after the USPS awarded Oshkosk the EV deal.

Workhorse shares rose 4.twenty five percent to $eleven.74 in midday investing on Thursday.

“This is an remarkable time to be a portion of and guide the Workhorse team as we continue on to ramp up functions, integrate our offer foundation and refine very last mile delivery options to fulfill the requirements of our growing customer foundation,” Dauch said in the launch.

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